Dynamic Technology Lab Private Ltd Decreases Holdings in MongoDB, Inc. (NASDAQ:MDB)

Dynamic Technology Lab Private Ltd reduced its stake in MongoDB, Inc. (NASDAQ:MDB) by 13.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,581 shares of the company’s stock after selling 721 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in MongoDB were worth $1,067,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in MongoDB by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company’s stock worth $1,706,205,000 after acquiring an additional 23,942 shares during the period. Franklin Resources Inc. raised its holdings in shares of MongoDB by 9.7% in the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock worth $478,398,000 after purchasing an additional 181,962 shares during the period. Geode Capital Management LLC lifted its stake in MongoDB by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company’s stock valued at $290,987,000 after purchasing an additional 22,106 shares during the last quarter. Norges Bank purchased a new stake in MongoDB in the fourth quarter worth $189,584,000. Finally, Amundi raised its stake in shares of MongoDB by 86.2% in the fourth quarter. Amundi now owns 693,740 shares of the company’s stock valued at $172,519,000 after buying an additional 321,186 shares during the period. Institutional investors own 89.29% of the company’s stock.

MongoDB Stock Performance

Shares of NASDAQ:MDB opened at $154.39 on Friday. The firm has a market capitalization of $12.53 billion, a PE ratio of -56.35 and a beta of 1.49. MongoDB, Inc. has a 52-week low of $151.52 and a 52-week high of $387.19. The firm has a fifty day moving average of $236.68 and a 200 day moving average of $261.91.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). The firm had revenue of $548.40 million during the quarter, compared to analysts’ expectations of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same quarter in the previous year, the company posted $0.86 earnings per share. On average, sell-side analysts forecast that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Dev Ittycheria sold 18,512 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $3,207,389.12. Following the transaction, the chief executive officer now directly owns 268,948 shares of the company’s stock, valued at approximately $46,597,930.48. This trade represents a 6.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dwight A. Merriman sold 1,045 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $242.67, for a total value of $253,590.15. Following the completion of the sale, the director now directly owns 85,652 shares of the company’s stock, valued at approximately $20,785,170.84. This trade represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,060 shares of company stock valued at $13,461,875. 3.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Robert W. Baird decreased their price objective on MongoDB from $390.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Mizuho lifted their target price on shares of MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Daiwa Capital Markets started coverage on shares of MongoDB in a research report on Tuesday, April 1st. They issued an “outperform” rating and a $202.00 price target on the stock. Barclays reduced their price objective on shares of MongoDB from $330.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Finally, Needham & Company LLC lowered their target price on shares of MongoDB from $415.00 to $270.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $312.84.

MongoDB Company Profile

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.